The number of companies declared insolvent over the first half of the year was down 17% compared to the same period last year.

Figures compiled by business and credit risk analyst Vision Net show there were 812 insolvencies between January and June

Of those 559 were liquidated, 243 had receivers appointed and 10 went into examinership.

The professional services sector accounted for more business failures than any other with 18% of the total.

Between January and May, the courts awarded creditors €189 million in corporate and consumer judgements for unpaid debts - up one-fifth on the same period last year.

The Revenue Commissioners had 883 corporate and consumer judgments awarded in their favour, accounting for 35% of the total number of awards.